Anita — Business Updates on COVID-19 — April 24

Apr 24th, 2020 at 3:53 pm

Thank you for your continued support of the Surrey Board of Trade, Surrey’s city-building business organization. Some updates for you below:

1. RENT RELIEF FOR BUSINESS: Canada Emergency Commercial Rent Assistance Program (CECRA) will be managed by the Canada Mortgage and Housing Corporation –operational mid-May https://news.gov.bc. ca/releases/2020FIN0024-000754
Commercial property owners will be able to lower the rents of their small business tenants payable for the months of April and May, retroactively, and for June. The Surrey Board of Trade realizes that this is delayed and that there are some challenges with this measure. We are advocating for expediency on all measures to help business and to bring in programs that will reduce debt burdens.SAMPLE RENT REDUCTION AGREEMENT